Investor Presentation

March 2022

Legal Disclaimer

This presentation and any related oral statements contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, Rover Group, Inc. ("Rover")'s expectations or predictions of future financial or business performance or conditions, statements regarding COVID recovery, changes in travel and working behavior, and the impact on Rover's business and operating results. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "potentially," "preliminary," "likely," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve risks, uncertainties and assumptions that may cause actual events, results, or performance to differ materially from those indicated by such statements. Certain of these risks are identified in the section titled "Risk Factors" in the Final Prospectus filed with the SEC on November 22, 2021 in connection with Rover's Registration Statement on Form S-1 (File No. 333-260937) and in the Annual Report on Form 10-K to be filed for the year ended December 31, 2021. Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Rover's other recent filings with the SEC which are available, free of charge, on the SEC's website atwww.sec.gov. If the risks or uncertainties ever materialize or the assumptions prove incorrect, Rover's results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date they are made. Except as required by law, Rover assumes no obligation and does not intend to update any forward-looking statements or to conform these statements to actual results or changes in Rover's expectations.

The information contained herein is derived from various internal and third-party industry publications and sources as well as from research reports prepared for other purposes. Rover has not independently verified the information obtained from these third-party sources and cannot assure you of the information's accuracy or completeness. This information involves a number of assumptions and limitations, is subject to risks and uncertainties, and is subject to change. Actual events, results or performance could differ materially from those expressed in the estimates made by the independent parties and by Rover. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any information on past performance or modeling contained herein is not an indication as to future performance.

In addition to results determined in accordance with generally accepted accounting principles ("GAAP"), this presentation contains certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA margin, Free Cash Flow, Non-GAAP cost of revenue, Non-GAAP gross profit, Non-GAAP gross margin, Non-GAAP operations and support, Non-GAAP marketing, Non-GAAP product development, Non-GAAP general and administrative. These non-GAAP financial measures are in addition to, and not as a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Rover believes that the use of these non-GAAP financial measures provides useful information to investors and others in understanding and evaluating Rover's operating results. Non-GAAP financial measures have limitations as an analytical tool, and you should not consider them in isolation or as a substitute for analysis of Rover's results as reported under GAAP. For more information on how Rover uses Adjusted EBITDA, why Rover considers it an important measure, and its limitations, see the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations-Non-GAAP Measures-Adjusted EBITDA" in Rover's final prospectus filed with the SEC on November 22, 2021 and its Annual Report on Form 10-K to be filed for the year ended December 31, 2021. See slide 32 for Rover's historical net loss, slide 33 for a reconciliation of historical Adjusted EBITDA to net income (loss), and slide 34 for a reconciliation of the other non-GAAP measures to their most directly comparable GAAP measure.

Use of Data

The data contained herein is derived from various internal and third-party industry publications and sources as well as from research reports prepared for other purposes. Rover has not independently verified the data obtained from all these sources and cannot assure you of the data's accuracy or completeness. This data is subject to change. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance. Rover assumes no obligation to update the information in this presentation.

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Table of Contents

  • 1. Business Overview

  • 2. Investment Highlights

  • 3. Financial Overview

  • 4. Appendix

Meet Rover

Annual Gross Booking Value ($M)

$522

2014

2015

2016

2017

2018

2019

2020

2021

3M

Pet Parents have booked

660k

Providers paid

96%+

of U.S. population covered

(1)

82%

Repeat bookings

1-2

Quarter payback

~70%

of new customers rebook

(2)

57M

All-time services delivered

~11x

Larger than next largest competitor (3)

67%

Previously relied on friends, family and neighbors (4)

Note: Metrics are cumulative through Q4'21, unless otherwise noted

2021 results have not been audited. See Legal Disclaimer for additional information

  • 1. Based on the US Census zip code tabulation areas with booked transactions on the platform as of September 2020

  • 2. Based on 2016-2019 Jan Cohorts

  • 3. Based on that competitor's publicly available gross bookings data

  • 4. Rover survey results as of July 2020

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Disclaimer

Rover Group Inc. published this content on 07 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 April 2022 09:21:05 UTC.